The table below shows data for a simple economy that produces 2 products only: Ketchup and Tomatoes. Assume that 80% of tomatoes are used to make ketchup. Use 2017 as the base year and calculate the price level change from 2018 to 2019. Ketchup Price of Price of Produced Ketchup Tomatoes tomatoes (bottles) per bottle Produced (Ibs) $2.75 per lb $1.38 Year 2017 44,600 29,000 2018 45,900 $2.85 30,100 $1.41 2019 47,800 $2.90 31,300 $1.49
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- Q6The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year 2008 2009 2010 2011 Price of Cereal Quantity of Price of Milk Cereal $4.00 $4.00 Refer to Table 10-4. In 2008, this country's $6.00 a. d. 90 120 150 $1.50 $2.00 $2.50 $3.50 b. nominal GDP was equal to real GDP and the GDP deflator was equal to 1 nominal GDP was less than real GDP, and the GDP deflator was less than 100 4. nomunal GDP was equal to real GDP, and the GDP deflator was equal to 100 Q7. Refer to Table 10-4. In 2009, this country's real GDP was $660, and the GDP deflator was 113.4 b. real GDP was S670, and the GDP deflator was 115.2 real GDP was $660, and the GDP deflator was 115.2. real GDP was $670, and the GDP deflator was 113.4. Quantity of Milk 150 a nominal GDP was greater than real GDP and the GDP deflator was greater than 100. 180 200 200The table below gives the price and consumption (usage/sales) for two products xand yfor four years. Using year 2000 as the base year calculate for each year, thea) Basic expenditure index b) Laspeyers price index, and c) Paasche price indexQ6The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2008. Prices and Quantities Year Price of Cereal Quantity of Price of Milk Quantity of Milk Cereal 2008 $4.00 90 $1.50 150 2009 $4.00 100 $2.00 180 2010 $5.00 120 $2.50 200 2011 $6.00 150 $3.50 200 Refer to Table 10-4. In 2008, this country's a. nominal GDP was greater than real GDP, and the GDP deflator was greater than 100. b. nominal GDP was equal to real GDP, and the GDP deflator was equal to 1. c. nominal GDP was less than real GDP, and the GDP deflator was less than 100. d. nominal GDP was equal to real GDP, and the GDP deflator was equal to 100,
- Use the following table to find percentage changes in the cost of living (COL) from 2020 to 2021: Year Housing ($) Transportation ($) 2020 10,000 2021 10,500 2022 11,000 0.71% 7.09% 79% O 70.9% 1,200 1,350 1,400 Food ($) 1,500 1,750 1,800 COL ($) Change(%) N/AA seller sells four diamond rings of 16000 each if a seller sells his 5th diamond ring his MR becomes 14500 calculate the price at which the seller sells his 5th ring.Travel Time Each Way Price of a Dress Store (Minutes) (Dollars per dress) Local Department Store 15 112 Across Town 30 89 Neighboring City 60 70 Juanita makes $26 an hour at work. She has to take time off work to purchase her dress, so each hour away from work costs her $26 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the opportunity cost of Juanita's time and the total cost of shopping at each location. Opportunity Cost of Time Price of a Dress Total Cost Store (Dollars) (Dollars per dress) (Dollars) Local Department Store 112 Across Town 89 70 Neighboring City Assume that Juanita takes opportunity costs and the price of the dress into consideration when she shops. Juanita will minimize the cost of the dress if she buys it from the
- Help plz Graph plz 3 7Suppose seafood price and quantity data for the years 2000 and 2009 follow. Use 2000 as the base period.Seafood 2000 Qty. (lb) | 2000 Price ($/lb) | 2009 Price ($/lb)Halibut 75,090 1.91 2.33Lobster 83,080 3.72 3.09Tuna 50,779 1.87 1.97(a)Compute a price relative for each type of seafood. (Round your answers to one decimal place.)Seafood Price RelativeHalibut 122.0 Lobster _________ Tuna 105.3 (b)Compute a weighted aggregate price index for the seafood catch. (Round your answer to one decimal place.)I2009 = ___________ Comment on the change in seafood prices over the nine-year period. (Enter your percentage as a positive value. Round your answer to one decimal place.)Seafood prices have decreased by ______ % over the 9-year period according to the index.D. The table below contains data for the country of Batterland, which produces only waffles and pancakes. The base year is 2009. Year Price Quantity Price of Quanti of of Pancakes of Waffles Waffles Pancak 2008 $2.00 100 $1.00 100 2009 $2.00 120 $2.00 150 2010 $2.0O 150 $3.00 200 2011 $4.00 180 $3.00 220 1. In 2009, this country's nominal GDP was 2. In 2009, this country's real GDP was 3. In 2011, this country's GDP deflator was 4. In 2011, this country's real GDP growth rate was 5. This country's inflation rate in 2011 was